People Now Can’t Pay Their Car Loans! Credit Cards Maxed Out Like 2009

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Rising delinquencies, or an increase in the number of individuals who are unable to make payments on their debts, can be an indication of financial distress among consumers. This can signal that a significant portion of the population is struggling to make ends meet, which can have a negative impact on the overall economy.
During a recession, delinquencies typically rise as unemployment increases and incomes decline, making it more difficult for individuals to meet their financial obligations. This was the case during the 2008 financial crisis when delinquency rates on mortgages, credit cards, and other types of debt soared as the economy went into a recession.
The rising delinquencies in the wake of the financial crisis had a cascading effect on the economy as it led to foreclosures, evictions, and financial hardship for many families. Additionally, it also put a strain on banks and other financial institutions, many of which were required to write off bad loans and take significant losses.
Overall, rising delinquencies can be a sign of economic turmoil and financial stress among consumers, and it is important for policymakers and financial institutions to closely monitor this trend and take steps to mitigate its impact.

TOPICS AND TIMESTAMPS:
Delinquencies 0:00
Mass Layoffs 11:39

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